20000322

BoI evolving plan to attract investment from expatriates

RECORDER REPORT

ISLAMABAD: The Board of Investment (BoI) is evolving a mechanism to attract investment from overseas Pakistanis, it is learnt.

This mechanism is being finalised in the light of complaints the government has received during the past few months from the expatriates regarding tax problems and misconduct of Customs officials.

Sources said that several overseas Pakistani businessmen have asked the government to remove bottlenecks in the way of investment by the expatriates.

The Board has started consultations with the Central Board of Revenue (CBR), Ministries of Finance, Commerce etc to hammer out a framework to attract investment from Pakistani nationals residing in foreign countries.